Windfall tax for major companies to be introduced in Russia

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Monitoring of the Federal Legislation dated 30.03.2007

Direction of the Central Bank of Russia No. 1787-U of January 16, 2007 on the Invalidation of Individual Normative Acts of the Russian Federation

Pursuant to the adoption of the Regulation of the Bank of Russia No. 301-P of January 16, 2007, invalidates the Regulation of the Bank of Russia No. 125-P of October 4, 2000 defining the procedure of drawing up of the intermediate liquidation balance report and the liquidation balance report of the credit organisation and their coordination with the territorial institutions of the Bank of Russia.
      The Direction is entered into force 30 days after the day of its official publication in the Herald of the Bank of Russia.

Letter of the Federal Tax Service No. ChD-6-09/75 of February 5, 2007 on the Explanations on the Filling of the Blank Form of the Report of the Opening (Closing) of the Account, Change of Account Details

Introduces for application from February 5, 2007 the forms of bank reports of the opening (closing) of the account, change of account details endorsed by the Order of the Federal Tax Service of Russia No. SAE-3-09/861@ of December 13, 2006.

Letter of the Central Bank of Russia No. 18-T of February 19, 2007 on the Acceptance by Banks of Encashment Orders Put Forward by the Territorial Bodies of the Federal Bailiff Service

The banks servicing debtor accounts shall accept from the bailiffs implementing enforced execution of court rulings and acts of other bodies in compliance with the legislation encashment orders to collect monetary resources without the stamp of the issuer bank. The bank servicing the payer (debtor) shall check encashment orders according to the requirements of the Regulation of the Bank of Russia No. 2-P of October 3, 2002 on cashless payments in the Russian Federation, except for the checking of the stamp of the issuer bank in the field of the encashment order "Notes of the Recipient Bank" and the signature of the executor in charge.

Letter of the Central Bank of Russia No. 19-T of February 20, 2007 on the Opening of Accounts to Financial Bodies

Informs of opportunities of opening of accounts to financial bodies of the subjects of the Russian Federation in the institutions of the Bank of Russia on the Balance Account 40302 "Resources in Temporary Use of Budget-Supported Institutions".

Letter of the Central Bank of Russia No. 01-13-5/591 of February 20, 2007 on the List of Organisations

The list of organisations whose promissory notes (claims rights under credit contracts) may be accepted to secure the credits of the Bank of Russia, as well as organisations that may act as guarantors for the promissory notes (claims rights under credit contracts) accepted to secure the credits of the Bank of Russia, shall include the OAO Sibur Holding, OAO RAO Joint Power Supply Systems of Russia and the OAO FSK Joint Power Supply System.

Federal Law No. 21-FZ of February 28, 2007 on the Amendments to Article 61 of the Land Code of the Russian Federation

Article 61 of the Land Code of the Russian Federation defining the terms and procedure of reimbursement of losses incurred as a result of violation of the land rights of citizens and organisations is being brought in compliance with the civil legislation. Apart from the responsibility of the bodies of state power for the losses incurred on the citizens and organisations through issue of illegal acts, the Article introduces also a similar responsibility of the bodies of local government.

Federal Law No. 22-FZ of February 28, 2007 on the Amendments to Article 1.1 of the Federal Law on the Days of Military Glory and Memorial Dates of Russia

The list of memorial dates of Russia shall include also December 9 - the Day of the Heroes of the Fatherland.

Federal Law No. 23-FZ of February 28, 2007 on the Execution of the Budget of the Social Insurance Fund of the Russian Federation for the Year 2005

Endorses the report of execution of the budget of the Social Insurance Fund of the Russian Federation for the year 2005 with incomes amounting to Rbl 186,692,034.8 thousand and expenses amounting to Rbl 165,311,675.8 thousand, the excess of incomes over expenses being Rbl 21,380,359.0 thousand.

Letter of the Ministry of Finance of the Russian Federation, the Federal Treasury and the Central Bank of Russia Nos. 03-04-08-01/7, 42-7.1-15/5.2-69, 20-T of February 20, 2007 on the Procedure of Application of Individual Provisions of the Federal Law No. 269-FZ of December 30, 2006 on the Simplified Procedure of Declaring of Incomes by Natural Persons

From March 1, 2007, a Federal Law is entered into force on the simplified procedure of declaring of incomes by natural persons envisaging a simplified procedure of declaring to provide for opportunities to pay the taxes from incomes received before January 1, 2006.

Federal Constitutional Law No. 3-FKZ of March 2, 2007 on the Amendments to Article 11 of the Federal Constitutional Law on the Government of the Russian Federation

According to the amendments, members of the Government of the Russian Federation may not form part of the management bodies, trustee or supervising boards, other bodies of foreign non-commercial non-governmental organisations and their structural division operating on the territory of the Russian Federation if otherwise is not envisaged in the legislation of the Russian Federation, international treaties or agreements on the mutual basis of the federal bodies of state power with the state bodies of foreign states, international and foreign organisations.
      The teaching, scientific and other creative activities carried out by the member of the Government of the Russian Federation may not be financed exclusively at the expense of resources of foreign states, foreign and international organisations, foreign citizens and stateless persons if otherwise is not envisaged in the legislation of the Russian Federation, international treaties of the Russian Federation or agreements on the mutual basis of the federal bodies of state power with the state bodies of foreign states, international and foreign organisations.
      The Federal Constitutional Law is entered into force 30 days after the of its official publication.

Federal Law No. 25-FZ of March 2, 2007 on the Municipal Service in the Russian Federation

Specifies the fundamentals of the legal regulation of relations pertaining to admission of citizens of the Russian Federation to the municipal service, its flow and termination, as well as determination of the legal status of municipal servants.
      The Federal Law is entered into force from June 1, 2007.

Federal Law no. 24-FZ of March 2, 2007 on the Amendments to Individual Legislative Acts of the Russian Federation Refining the Requirements to Persons Occupying State or Municipal Positions, As Well As Positions of the State or Municipal Service

Amends 18 legislative acts of the Russian Federation containing provisions defining the status of person occupying state or municipal positions, as well as positions of the state or municipal service (deputies, higher officials of the subjects of the Russian Federation, judges, prosecutors, auditors of the Audit Chamber of the Russian Federation, members of election commissions with the right of vote, elected officials of the bodies of local government, state and municipal servants).
      Specifies, in particular, that the mentioned persons may not form part of the management bodies, trustee or supervising boards, other bodies of foreign non-commercial non-governmental organisations and their structural division operating on the territory of the Russian Federation if otherwise is not envisaged in the international treaty of the Russian Federation or legislation of the Russian Federation.
      The teaching, scientific and other creative activities of the mentioned persons may not be financed exclusively at the expense of resources of foreign states, foreign and international organisations, foreign citizens and stateless persons if otherwise is not envisaged in the international treaty of the Russian Federation or legislation of the Russian Federation.
      The Federal Law is entered into force 30 days after the day of its official publication.

Letter of the Federal Tax Service No. GI-6-04/135@ of February 21, 2007 on the Procedure of Submission of Information on the Incomes of Natural Persons Supplied by Tax Agents Including Their Separate Divisions

Russian organisations, permanent representations of foreign organisations in the Russian Federation must submit on the annual basis no later than the 1st of April of the year following the expired tax period to the tax body at the place of their registration information on the incomes received from them by natural persons during the calendar year and the amounts of accrued and collected taxes in this period.

Federal Law No. 28-FZ of March 3, 2007 on the Removal of Provisional Clauses to Some International Treaties

To reinforce the intentional legal basis for the combating of terrorism, removes provisional clauses introduced by the USSR when signing a number of anti-terrorist international treaties: Convention on Offences and Certain Other Acts Committed on Board Aircraft, Convention for the Suppression of Unlawful Seizure of Aircraft, Convention for the Suppression of Unlawful Acts against the Safety of Civil Aviation, Convention on the Prevention and Punishment of Crimes against Internationally Protected Persons, including Diplomatic Agents, Convention on the Physical Protection of Nuclear Material, International Convention against the Taking of Hostages.

Federal Law No. 27-FZ of March 3, 2007 on the Ratification of the Agreement between the Government of the Russian Federation and the Government of the French Republic on the Long-Term Cooperation in the Sphere of Development, Creation and Use of Carrier Missiles and the Placing of Carrier Missile Soyuz-ST in the Guiana Outer Space Centre

The ratified agreement envisages an extended cooperation of Russia and France in the modernisation of the space centre in the French Guiana and its use for carrier missiles Soyuz ST to launch space vessels in the framework of the state programs of the Russian Federation and France.

Federal Law No. 26-FZ of March 3, 2007 on the Ratification of the Agreement between the Russian Federation and the European Community on the Readmission

Ratifies the Agreement between the Russian Federation and the European Community on the readmission signed in Sochi on May 25, 2006.

Order of the Ministry of Economic Development of the Russian Federation No. 15 of January 24, 2007 on the Invalidation of the Order of the Ministry of Economic Development of Russia No. 186 of August 10, 2005 on the Requirements to the Description of Individual Categories of Commodities in Column 31 of the Cargo Customs Declaration

Invalidates the Order of the Ministry of Economic Development of Russia envisaging additional requirements to the description of individual categories of commodities in Column 31 of the cargo customs declaration "Cargo Items and Description of Commodities" containing information on the declared commodities permitting to identify the commodities and include them in one of the 10-digit classification codes of the Foreign Trade Commodity Nomenclature of Russia, as well as information on the cargo items.
      Registered in the Ministry of Justice of the Russian Federation on March 1, 2007. Reg. No. 9004.

Decision of the Government of the Russian Federation No. 142 of March 3, 2007 on the Amendment to the Regulation on the Application of Uniform Rates of Customs Duties, Taxes for Commodities Moved Across the Customs Border of the Russian Federation by Natural Persons for Personal Use Endorsed by the Decision of the Government of the Russian Federation No. 718 of November 29, 2003

During the period of the State Program of Assistance of Voluntary Resettlement to the Russian Federation of Compatriots Living Abroad, customs duties, taxes and fees are not collected for the import of commodities (including cars) by its participants purchased earlier when entering the territory of the Russian Federation.
      The Decision is entered into force from the day of its official publication and applies to legal relations emerging from January 1, 2007.

Decision of the Government of the Russian Federation No. 132 of March 3, 2007 on the Amendments to the Decision of the Government of the Russian Federation No. 398 of June 29, 2006

Abandons special requirements to the procedure of re-labelling of alcoholic products imported to the customs territory of the Russian Federation until March 31, 2006 inclusive and labelled with excise duty stamps issued until December 31, 2005 inclusive.
      The Decision is entered into force from the day of its official publication.

Decision of the Government of the Russian Federation No. 145 of March 5, 2007 on the Procedure of Organisation and Carrying out of the State Expert Evaluation of Design Documentation and Results of Engineering Surveys

Defines the procedure of organisation and carrying out in the Russian Federation of the state expert evaluation of design documentation and results of engineering surveys, procedure of determination of the amount of payment for the state expert evaluation, as well as the procedure of collection of this payment.

Letter of the Federal Treasury and the Central Bank of Russia Nos. 42-7.1-15/5.2-73, 21-T of February 22, 2007 on the Sample Agreement

According to the Federal Law on the federal budget for the year 2007, the Central Bank of the Russian Federation is the administrator of receipts in the budget system of the Russian Federation for individual types of incomes. In this connection, prepares a sample agreement on the interaction between the departments of the Federal Treasury in the subjects of the Russian Federation and the Central Bank of Russia to execute the function of administration of receipts of individual types of incomes to the budget system of the Russian Federation.

Federal Law No. 33-FZ of March 8, 2007 on the Accession of the Russian Federation to the Budapest Convention on the Contract for the Carriage of Goods by Inland Waterway (CMNI)

The Russian Federation has become one of the member-countries of the Budapest Convention on the Contract for the Carriage of Goods by Inland Waterway (CMNI) of June 22, 2001. Provisions of the Convention apply to international shipments if the port of loading and the port of unloading are located in different states, at least one of which being a member of the Convention.

Federal Law No. 31-FZ of March 8, 2007 on the Ratification of the Protocol on the Amendment to the Protocol to the Agreement between the Russian Federation and the Republic of Kazakhstan on the Delimitation of the Bottom of the Northern Part of the Caspian Sea for the Purpose of Implementation of the Sovereign Rights for the Use of Natural Resources of June 6, 1998

The ratified Protocol brings the legal regime of use of the Central Geological Structure and the deposit of Khvalynskoye in compliance with the legal regime already in use for the geological structure of Kurmangazy on the basis of the Agreement between the Russian Federation and the Republic of Kazakhstan on the delimitation of the bottom of the northern part of the Caspian Sea for the purpose of implementation of the sovereign rights for the use of natural resources.

Federal Law No. 30-FZ of March 7, 2007 on the Ratification of the Agreement between the Russian Federation and the European Community on the Simplification of the Issue of Visas to the Citizens of the Russian Federation and the European Union

The Council of the Federation of the Russian Federation has approved on February 21, 2007 the Federal Law on the ratification of the International Agreement aimed at liberalisation of the regime of mutual trips of citizens of the Russian Federation and the citizens of the member-states of the European Union (except for Great Britain, Denmark and Ireland).

Decision of the Government of the Russian Federation No. 148 of March 10, 2007 on the Endorsement of the Rules of Issue of Permissions for the Right of Arranging of a Retail-Trade Market Place

Specifies the procedure of issue to legal entities of permission for the right of arranging of a retail-trade market place.
      The Decision is entered into force from April 11, 2007.

Direction of the Central Bank of Russia No. 1793-U of February 20, 2007 on the Amendments to the Regulation of the Bank of Russia No. 215-P of February 10, 2003 on the Method of Determination of Own Resources (Capital) of Credit Organisations

The introduced amendments pertain to the procedure of determination of the amount of own resources (capital) of credit organisations and are stipulated by the improvements of the actual banking legislation in the sphere of generation of sources of own resources.
      The Direction is entered into force from the day of its official publication in the Herald of the Bank of Russia.
      Registered in the Ministry of Justice of the Russian Federation on March 7, 2007. Reg. No. 9072.

Direction of the Central Bank of Russia No. 1794-U of February 21, 2007 on the Amendments to the Instruction of the Bank of Russia No. 109-I of January 14, 2004 on the Procedure for the Bank of Russia to Take the Decision on the State Registration of Credit Organisations and Issue of Licenses for Bank Operations

The amendments pertain to the terms of obtaining of licenses for bank operations by credit organisations at their creation and of opening (closing) of divisions of the credit organisation (branch) on the territory of the Russian Federation.
      The Direction is entered into force 30 days after the day of its official publication in the Herald of the Bank of Russia.
      Registered in the Ministry of Justice of the Russian Federation on March 7, 2007. Reg. No. 9071.

Decision of the Social Insurance Fund of the Russian Federation No. 15 of January 26, 2007 on the Amendments to the Decision of the Social Insurance Fund of the Russian Federation No. 27 of March 23, 2004

The procedure of registration of insurants in the Social Insurance Fund of the Russian Federation is being brought in compliance with the actual legislation on the registration of legal entities and independent entrepreneurs.
      Registered in the Ministry of Justice of the Russian Federation on March 6, 2007. Reg. No. 9070.

Order of the Federal Customs Service No. 106 of January 29, 2007 on the Endorsement of the Format for the Entry of Information on the Labelled Alcoholic Products on Excise-Duty Stamps for Reading in the Technical Means of the Joint State Automatic Information System of Registration of the Volume of Production and Circulation of Ethyl Alcohol, Alcoholic and Alcohol-Containing Products

Since the Federal Customs Service of Russia is empower with authority to work out the state policy and normative-and-legal regulation in the customs sphere, endorses the format for the entry of information on the labelled alcoholic products on excise duty stamps for reading in the technical means of the Joint State Automatic Information System of registration of the volume of production and circulation of ethyl alcohol. alcoholic and alcohol-containing products.
      Registered in the Ministry of Justice of the Russian Federation on March 6, 2007. Reg. No. 9055.

Order of the Ministry of Economic Development of the Russian Federation No. 18 of January 25, 2007 on the Invalidation of the Order of the Ministry of Economic Development of Russia No. 13 of January 25, 2006 on the Endorsement of the Format for the Entry of Information on the Labelled Alcoholic Products on Excise-Duty Stamps for Reading in the Technical Means of the Joint State Automatic Information System of Registration of the Volume of Production and Circulation of Ethyl Alcohol, Alcoholic and Alcohol-Containing Products

In pursuance of the adoption of the Order of the Federal Customs Service No. 106 of January 29, 2007 on the endorsement of the format for the entry of information on the labelled alcoholic products on excise duty stamps for reading in the technical means of the Joint State Automatic Information System of registration of the volume of production and circulation of ethyl alcohol, alcoholic and alcohol-containing products, invalidates the Order of the Ministry of Economic Development of Russia No. 13 of January 25, 2006 on the same issue.
      Registered in the Ministry of Justice of the Russian Federation on March 6, 2007. Reg. No. 9054.

Order of the Federal Tax Service No. SAE-3-07/29@ of January 26, 2007 on the Endorsement of the Procedure and Format of Submission in the Electronic Form of Notifications Confirming the Purchase (Including the One for Own Needs), Supplies of Ethyl Alcohol (Including the Denatured One) and Non-Bottled Alcohol-Containing Products with the Content of Ethyl Alcohol Greater Than 60% of the Volume of the Finished Product

A new procedure was introduced from January 1, 2006 for submission by organisations of notifications confirming the purchase (including the one for own needs), supplies of ethyl alcohol (including the denatured one) and non-bottled alcohol-containing products with the content of ethyl alcohol greater than 60% of the volume of the finished product endorsed by the Decision of the Government of the Russian Federation No. 857 of December 31, 2005. The notifications may be submitted on paper or in the electronic form, the format being endorsed by the Federal Tax Service of Russia.
      Registered in the Ministry of Justice of the Russian Federation on March 6, 2007. Reg. No. 9032.

Order of the Federal Service for Financial Monitoring No. 13 of January 24, 2007 on the Invalidation of the Order of the Federal Service for Financial Monitoring No. 53 of April 24, 2006

Following FATF, invalidates the list of the states (territories) failing to participate in the international cooperation in the sphere of combating of legalisation (laundering) of incomes obtained in a criminal way and financing of terrorism. The appropriate list contained only two states: Myanmar (Burma) and Nigeria.
      Registered in the Ministry of Justice of the Russian Federation on March 5, 2007. Reg. No. 9018.

Order of the Federal Service of Ecological, Technological and Nuclear Enforcement No. 1130 of December 26, 2006 on the Endorsement and Entry into Force of the Procedure of Building and Keeping of Files in the Course of the State Construction Enforcement

Any documents drawn up or obtained in the course of the state construction enforcement must be included in the file built by the body of state construction enforcement. Endorses the procedure describing the requirements to the building and keeping of files in the course of the state construction enforcement carried out by the Federal Service of Ecological, Technological and Nuclear Enforcement and its territorial bodies, authorised bodies of executive power of the subjects of the Russian Federation, which does not apply to the cases of administrative violations.
      Registered in the Ministry of Justice of the Russian Federation on March 5, 2007. Reg. No. 9009.

Order of the Federal Agency of the Industry No. 105 of March 6, 2007 on the State Register of Cash Registers

According to the Decision of the Government of the Russian Federation No. 3 of January 23, 2007 having endorsed the rules of keeping of the State Register of Cash Registers, information on cash registers available in the State Register of Cash Registers is considered to be included in the State Register of Cash Registers from the day of entry into force of the mentioned Decision.

Budget Message to the Federal Assembly of the Russian Federation on the Budget Policy in 2008-2010 of March 9, 2007

Defines the main guidelines and directions of the budget strategy for the years 2008-2010.

Decision of the Government of the Russian Federation No. 156 of March 12, 2007 on the Cost of Insurance Year in 2007

The cost of insurance year in 2007 is fixed in the amount of Rbl 1,848.

Decision of the Government of the Russian Federation No. 152 of March 10, 2007 on the Federal Body of Executive Power in Charge of the State Regulation in the Sphere of Shared Construction of Apartment Houses and/or Other Objects of Immovable Property

The federal body of executive power in charge of the state regulation in the sphere of shared construction of apartment houses and/or other objects of immovable property is the Federal Service for Financial Markets.

Decision of the Government of the Russian Federation No. 147 of March 10, 2007 on the Endorsement of the Regulation on the Use of Official Internet Sites to Place Information on the Orders for Supplies of Commodities, Carrying out Works, Rendering Services for the State and Municipal Needs and on the Requirements to the Technological, Software, Linguistic, Legal and Organisational Means of Use of the Mentioned Sites

Official sites will be used to place on the obligatory basis information envisaged in the Federal Law on the placing of orders for supplies of commodities, carrying out works, rendering services for the state and municipal needs, information on the authorised body, as well as the requirements to the forms of submission and placing of information and the protocols of exchange of electronic messages for submission of information to be placed on the official site.

Order of the Ministry of Justice of the Russian Federation No. 29 of February 14, 2007 on the Endorsement of the Instruction on the Particulars of Entry of Records in the Joint State Register of the Rights for Immovable Property and Transactions with It at the State Registration of Rights for the Objects of Immovable Property Being Common Property in an Apartment House, Providing Information on the Registered Rights of the Common Shared Property for Such Objects of Immovable Property

The Instruction specifies the particulars of the state registration of the rights for the objects of immovable property being common property in an apartment house (objects of immovable property), as well as the particulars of keeping of files of documents of title and providing of information on the registered rights for the common shared property for such objects of immovable property.
      Invalidates the Instruction on the procedure of the state registration of rights for immovable property and transactions with it in condominiums.
      Registered in the Ministry of Justice of the Russian Federation on March 6, 2007. Reg. No. 9069.

Order of the Ministry of Public Health and Social Development of the Russian Federation No. 37 of January 17, 2007 on the Endorsement of the Regulation on the Ministry of Public Health and Social Development of the Russian Federation

Endorses the Regulation specifying general rules of organisation of activities of the Ministry of Public Health and Social Development of Russia.
      Registered in the Ministry of Justice of the Russian Federation on March 6, 2007. Reg. No. 9030.

Information Letter of the Central Bank of Russia No. 35 of February 28, 2007 "Summary of the Practice of Application of the Federal Law on Currency Regulation and Currency Control and the Normative Acts of the Bank of Russia Adopted in Pursuance of It"

Information on the payments for commodities handed over to a non-resident (received from a non-resident) on the territory of the Russian Federation and the invoice cost of these commodities is not registered in the bank control sheet. For the payments under a foreign trade contract, the payments pertaining to VAT paid by the resident are not registered in Section II "Information on Payments" of the bank control sheet. Availability of a short name with the bank of the transaction certificate may not server as grounds to redraw the transaction certificate by residents.
      When carrying out currency operations that required special bank accounts earlier in compliance with the normative acts of the Russian Federation through the bank accounts of the bank clients not being special accounts, the certificate of currency operations of the payment document should indicate the codes of the type of the currency operation proceeding from the nature of the carried out currency operations regardless of availability of the appropriate sign in the list of currency operations of clients of authorised banks provided in Appendix 2 to Instruction 117-I.

Federal Law No. 34-FZ of March 13, 2007 on the Amendments to Article 11 of the Federal Law on the Insurance of Deposits of Natural Persons in the Banks of the Russian Federation and Article 6 of the Federal Law on the Payments of the Bank of Russia Pertaining to Deposits of Natural Persons in the Banks Recognised Bankrupt That Fail to Participate in the System of Obligatory Insurance of Deposits of Natural Persons in the Banks of the Russian Federation

In view of the growth of the number of large deposits of natural persons, the amount of the aggregate insurance reimbursement pertaining to bank deposits of citizens is increased from Rbl 190,000 to Rbl 400,000. The mentioned increase pertains to the deposits in the banks participating in the system of obligatory insurance of deposits of natural persons and the deposits in the banks failing to form part of this system.

Decision of the Government of the Russian Federation No. 150 of March 10, 2007 on the Procedure to Pay out Compensations of Transportation Expenses to Participants of the State Program of Assistance of Voluntary Resettlement to the Russian Federation of Compatriots Living Abroad

Expenses subject to compensation include travel and transportation of personal belongings of the participant of the program and members of his family, as well as appropriate customs payments and taxes.
      The Decision is entered into force from the date of official publication and applies to legal relations emerging from January 1, 2007.

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-11-05/39 of March 5, 2007

The services of accepting of orders for passenger transportation by taxi over the phone are not included in household services, therefore activities of an independent entrepreneur pertaining to such services may not be transferred to the uniform imputed income tax. The mentioned entrepreneurial activities are subject to taxation according to the common procedure or may be transferred to the simplified system of taxation.

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-04-05-01/78 of March 6, 2007

The taxpayer is entitled for the property tax exemption for the incomes tax from natural persons in the amount designated for the redemption of interest under targeted loans (credits) obtained in credit or other organisations of the Russian Federation and actually spent for the new contraction or purchase of a dwelling home, flat, room or a share (shares) in them on the territory of the Russian Federation.
      If the credit provided by the bank was spent for the purchase of a flat other than the one indicated in the credit contract, it may not be regarded as a targeted credit obtained for the purchase of the flat subject to the property tax exemption. The interest allocated to redeem the mentioned credit may not be included in the calculation of the amount of the property tax exemption.
      If the purchase of the other flat was coordinated with the bank having provided the credit, the issue of inclusion of the interest of its redemption in the calculation of the property tax exemption may be examined additionally in the case of submission of appropriate documents.

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-11-04/3/64 of March 7, 2007

The services of air conditioning and ventilation, as well as the services of construction and installation works pertaining to air conditioning and ventilation, may not be included in household services, therefore entrepreneurial activities pertaining to such services may not be transferred to the system of taxation in the form of the uniform imputed income tax. The mentioned entrepreneurial activities are subject to taxation according to the common procedure or may be transferred to the simplified system of taxation.

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-03-06/2/42 of March 2, 2007

The payment of amounts of the profit tax shall be made by taxpayers at the place of location of the organisation, as well as the place of location of each if its separate divisions, proceeding from the share of profit falling on these separate divisions determined as an average mean of the specific weight of the average listed number of employees (labour remuneration expenses) and the specific weight of the residual cost of the amortised property of this separate division respectively in the average listed number of employees (labour remuneration expenses) and the residual cost of the amortised property.
      Labour remuneration expenses for employees of the parent office of the organisation according to the manning table may be accepted for the estimate of the share of profit falling on the parent office. Labour remuneration expenses for employees whose actual place of work is another subject of the Russian Federation rather than the place of location of the parent office - the place of location of the separate structural division - shall apply for the calculation of the share of profit falling on this separate division.

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-03-06/4/22 of March 2, 2007

According to Subitem 8 of Item 1 of Article 251 of the Tax Code, determination of the taxable base does not include incomes in the form of property obtained by state and municipal institutions at the decision of the bodies of executive power of all levels. The grounds to apply the given norm is a document of execution issued according to established procedure by the appropriate body of executive power. The state contract for the works (rendering services) is an independent reason of obtaining of property on a gratuitous basis and may not be regarded as a decision of the body of executive power.

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-04-05-02/3 of March 2, 2007

The taxable base for the uniform social tax with independent entrepreneurs is determined as a sum of incomes obtained by such taxpayers during the tax period from entrepreneurial activities less expenses pertaining to their obtaining. In this case, expenses may not include amounts of professional tax exemption granted to independent entrepreneurs in the calculation of the incomes tax from natural persons in the amount of 20% of the total amount of incomes in the case of absence of documentarily confirmed expenses.

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-03-06/1/145 of March 2, 2007

Expenses of purchase of leased property are recognised as expenses in the reporting (tax) periods where leasing payments are envisaged according to the terms of the contract. In this case, the mentioned expenses are included in proportion to the amount of leasing payments.
      The mentioned procedure applies only if the object of leasing is registered on the lessee balance. The cost of the leasing property registered according to the leasing contract on the lesser balance is redeemed by accruing amortisation.

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-03-06/1/147 of March 2, 2007

Determination of the taxable base for the profit tax from organisations does not include incomes in the from of amounts of reduction of the registered capital of the organisation in the reported (tax) period if such reduction is done in compliance with the requirements of the legislation of the Russian Federation, the list of cases when the joint-stock company must reduce the registered capital being defined in the Federal Law on joint-stock companies.

Decision of the Government of the Russian Federation No. 163 of March 15, 2007 on the Coefficient of Indexing of the Amount of the Monthly Insurance Payment under Obligatory Social Insurance against Industrial Accidents and Occupational Diseases

From January 1, 2007, the coefficient of indexing of the amount of the monthly insurance payment under obligatory social insurance against industrial accident and occupational diseases assigned before January 1, 2007 makes 1.075.

Order of the Ministry of Finance of the Russian Federation No. 13n of February 9, 2007 on the Endorsement of the Form of the Estimate of Advance Payments for the Uniform Social Tax for Taxpayers Making Payments to Natural Persons and Its Filling Procedure

From January 1, 2007, amendments came into force in individual provisions of Chapter 24 "Uniform Social Tax" of the Tax Code of the Russian Federation.
      Registered in the Ministry of Justice of the Russian Federation on March 15, 2007. Reg. No. 9118.

Order of the Federal Service of Ecological, Technological and Nuclear Enforcement No. 56 of February 7, 2007 on the Endorsement of the Form of the Permission for Emissions of Hazardous Substances (Pollutants) into the Atmospheric Air

According to the Federal Law No. 96-FZ of May 4, 1999 on the protection of the atmospheric air, emissions of hazardous substances (pollutants) into the atmospheric air are permitted on the basis of the permission issued by the territorial body of the federal body of executive power in charge of protection of the environment, bodies of executive power of the subjects of the Russian Federation in charge of the state management in the sphere of environmental protection. The permission of emissions of hazardous substances (pollutants) into the atmospheric air specifies the limiting emissions and other terms providing for the protection of the atmospheric air.
      Registered in the Ministry of Justice of the Russian Federation on March 14, 2007. Reg. No. 9108.

Order of the Federal Service of Ecological, Technological and Nuclear Enforcement No. 84 of February 19, 2007 on the Endorsement of the Procedure of Issue of Permissions for Emissions of Hazardous Substances (Pollutants) into the Atmospheric Air

Specifies the procedure and terms of issue by the territorial bodies of the Federal Service of Ecological, Technological and Nuclear Enforcement of permissions for emissions of hazardous substances (pollutants) into the atmospheric air to legal entities and independent entrepreneurs possessing stationary sources of emissions of hazardous substances (pollutants) into the atmospheric air and subject to the federal state ecological control.
      Registered in the Ministry of Justice of the Russian Federation on March 14, 2007. Reg. No. 9107.

Order of the Federal Service of Ecological, Technological and Nuclear Enforcement No. 87 of February 20, 2007 on the Endorsement of the Instruction on the Organisation of Work of the Federal Service of Ecological, Technological and Nuclear Enforcement to Issue Permissions for Emissions and Discharges of Pollutants Specifying the Limits of Emissions and Discharges

The Instruction regulates organisation of work of the Federal Service of Ecological, Technological and Nuclear Enforcement and its territorial bodies pertaining to issue of permissions for emissions and discharges of pollutants specifying the limits of emissions and discharges for legal entities whose economic and other activities do not ensure observation of the normatives of permissible emissions and discharges of hazardous substances (pollutants).
      Registered in the Ministry of Justice of the Russian Federation on March 14, 2007. Reg. No. 9099.

Instruction of the Central Bank of Russia No. 130-I of February 21, 2007 on the Procedure of Obtaining of the Preliminary Consent of the Bank of Russia for the Purchase and/or Acquiring in Trust Control of Stocks (Shares) of the Credit Organisation

According to the legislation on banks and banking activities, the purchase and/or acquiring in trust control as a result of a single or several transactions by a single legal entity or natural person or a group of legal entities and/or natural persons interconnected by an agreement or a group of legal entities being affiliated to or dependent on each other of more than 20% of stocks (shares) of the credit organisation requires a preliminary consent of the Bank of Russia.
      Registered in the Ministry of Justice of the Russian Federation on March 14, 2007. Reg. No. 9088.

Order of the Federal Service for Financial Markets No. 07-4/pz-n of January 25, 2007 on the Endorsement of the Standards of Issue of Securities and Registration of Prospectuses of Securities

Endorses the new standards of issue of securities and registration of prospectuses of securities regulating the issue of stocks, issuer options and the bonds of legal entities (except for the state and municipal securities, bonds of the Central Bank of Russia), as well as the procedure of registration of prospectuses of appropriate securities.
      Registered in the Ministry of Justice of the Russian Federation on March 15, 2007. Reg. No. 9121.

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-03-06/1/23 of January 23, 2007

Provides explanations on the issues of profit taxation of a Russian organisation being affiliated to a foreign organisation - resident of the USA - possessing more than 20% of the registered capital of the organisation.

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-04-05-01/37 of February 13, 2007

The taxpayer is entitled for a property tax exemption for the incomes tax from natural persons in the amount actually spent for the new construction or purchase of a flat on the territory of the Russian Federation. The total amount of the property tax exemption may not be greater than Rbl 1,000,000.

Decision of the Government of the Russian Federation No. 164 of March 20, 2007 on the Endorsement of the Rates of Export Customs Duties for Raw Oil and Individual Categories of Commodities of Oil Exported from the Territory of the Russian Federation Outside the Member-States of the Customs Union Agreements

Reduces the rates of export customs duties for raw oil and individual categories of commodities of oil exported from the territory of the Russian Federation outside the member-states of the Customs Union agreements
      The rate of the export customs duty for raw oil is fixed in the amount of USD 156.4 per ton instead of USD 179.7.
      Export from the Russian Federation of light and medium distillates, gas oils, propane, butane, ethylene, propylene, butylene and butadiene, other liquefied gasses, benzene, toluene, xylenes is subject to the duty at the rate of USD 117.7 per ton (instead of USD 133.4).
      The rate of the export duty for liquid fuels, lubricants, spent oil products, petrolatum, paraffin, microcrystalline oil wax, gatch, other mineral waxes and similar products (other than the raw ones), as well as the oil coke, oil bitumen and other residues of processing of oil or oil products from bituminous materials (other than calcined oil coke) is reduced from USD 71.8 to USD 63.4 per ton.
      The Decision is entered into force from April 1, 2007.

Order of the Ministry of Finance of the Russian Federation No. 183n of December 26, 2006 on the Endorsement of the Regulation on the Procedure of Implementation by the Federal Service for Financial Monitoring of Control of Execution by Organisations Carrying out Operations with Monetary Resources and Other Property Where Enforcement Bodies Are Not Available of the Federal Law No. 115-FZ of August 7, 2001 on the Combating of Legalisation (Laundering ) of Incomes Obtained in a Criminal Way and Financing of Terrorism

Federal Service for Financial Monitoring is the body in charge of control and enforcement of execution of the requirements of the legislation of the Russian Federation on the combating of legalisation (laundering) of incomes obtained in a criminal way and financing of terrorism.
      Registered in the Ministry of Justice of the Russian Federation on March 14, 2007. Reg. No. 9109.

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-04-07-01/16 of January 26, 2007

The right of a taxpayer for the professional tax exemption for the incomes from natural persons in the amount of actually made and documentarily confirmed expenses directly associated with the obtained incomes is not restricted by any conditions and does not require a special confirmation.

Federal Law No. 38-FZ of March 23, 2007 on the Amendments to Article 217 of Part 2 of the Tax Code of the Russian Federation

According to the introduced amendments, an exemption of the incomes tax from natural persons applies to amounts obtained by taxpayers in the form of grants (gratuitous aid) provided to support science and education, culture and arts in the Russian Federation by Russian organisations. The list of such organisations will be endorsed by the Government of the Russian Federation.
      The Federal Law is entered into force from January 1, 2008, however, no sooner than one month after the day of its official publication.

Federal Law No. 37-FZ of March 23, 2007 on the Amendments to Articles 3 and 26 of the Federal Law on the Specially Protected Natural Territories and Article 26.3 of the Federal Law on the General Principles of Organisation of Legislative (Representative) and Executive Bodies of State Power of the Subjects of the Russian Federation

The adopted Law delimits the authority of the federal and regional bodies of state power in the sphere of organisation and functioning of the specially protected natural territories.

Decree of the President of the Russian Federation No. 372 of March 20, 2007 on the Amendments to the General Principles of Service Conduct of State Servants Endorsed by the Decree of the President of the Russian Federation No. 885 of August 12, 2002

Extends the list of general principles of service conduct of state servants endorsed by the Decree of the President of the Russian Federation No. 885 of August 12, 2002.

Decree of the President of the Russian Federation No. 403 of March 21, 2007 on the Amendments to Some of the Acts of the President of the Russian Federation on the State Management in the Sphere of Migration Policy

Delimits the authority of the Ministry of Internal Affairs of Russia and the Federal Migration Service of Russia in the sphere of migration.
      In particular, the sphere of reference of the Ministry of Internal Affairs of Russia does not include now the function of implementation of the state policy and the normative-and-legal regulation in the sphere of migration. The mentioned functions are handed over to the Federal Migration Service of Russia. According to the amendments, the Ministry is only working out the state policy in the sphere of migration.
      The Decree is entered into force from the day of its signing.

Decision of the Government of the Russian Federation No. 169 of March 21, 2007 on the Procedure of Carrying out of Conversion Operations "Debt in Exchange for Commodities and/or Services" Pertaining to Redemption and Servicing of the External State Debt of the Russian Federation

Endorses the rules regulating the procedure and terms of carrying out of conversion operations "debt in exchange for commodities and/or services" pertaining to the redemption and servicing of the state external debt of the Russian Federation and their financing at the expense of resources of the federal budget, as well as activities of the federal bodies of executive power and the Foreign Trade Bank carried out in the course of these operations according to the agreements between the Russian Federation and the creditor countries on the implementation of the conversion operations.

Order of the Ministry of Finance of the Russian Federation No. 10n of February 8, 2007 on the Amendments to the List of Information on the Labelled Alcoholic Products Entered in the Special Federal Stamps for Reading in the Technical Means of the Joint State Automatic Information System of Registration of the Volume of Production and Circulation of Ethyl Alcohol, Alcoholic and Alcohol-Containing Products and the Format of the Entered Information Endorsed by the Order of the Ministry of Finance of the Russian Federation No. 3n of January 13, 2006

The introduced amendments pertain to the composition of information entered in the form of a two-dimensional bar code on the special federal stamps used for labelling of alcoholic products.
      Registered in the Ministry of Justice of the Russian Federation on March 22, 2007. Reg. No. 9129.

Order of the Ministry of Agriculture of the Russian Federation No. 84 of February 13, 2007 on the Organisation of Works to Issue Import Quarantine Permissions

Endorses the procedure of organisation of works of the Federal Service of Veterinary and Phytosanitary Enforcement to issue import quarantine permissions for the import to the territory of the Russian Federation of products (materials, cargo) subject to quarantine measures.
      Registered in the Ministry of Justice of the Russian Federation on March 21, 2007. Reg. No. 9127.

Letter of the Ministry of Finance of the Russian Federation No. 03-07-15/31 of March 7, 2007

From January 1, 2007 introduces the norm of the Tax Code of the Russian Federation stating that in commodity exchange operations, offsetting of mutual claims, use of securities for payments, the amount of tax put forward by the taxpayer to the buyer of commodities (works, services, proprietary rights) is paid to the taxpayer on the basis of the payment order for transfer of monetary resources. The Letter explains the procedure of determination of the amount of value added tax due for exemption with the buyers of commodities (works, services, proprietary rights) in cashless forms of payments.

Decision of the Government of the Russian Federation No. 168 of March 21, 2007 on the Amendments to Some of the Decisions of the Government of the Russian Federation on the Issues of Electric Power Industry

Introduces a series of amendments to individual decisions of the Government of the Russian Federation regulating the issues in the sphere of electric power industry. The amendments correct the procedure of collection of payment for connection to power supply networks to regulate collection of payment by network companies for connection of consumers and producers of electric power.

Order of the Federal Service for Financial Markets No. 07-13/pz-n of February 8, 2007 on the Endorsement of the Regulation on the Composition and Structure of Assets of Joint-Stock Investment Funds and Assets of Shared Investment Funds

Introduces new requirements to the composition and structure of assets of joint-stock investment funds and assets of shared investment funds.
      Registered in the Ministry of Justice of the Russian Federation on March 22, 2007. Reg. No. 9158.

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-07-05/11 of March 13, 2007

The Ministry of Finance describes its position on the issue of application by the bank of the value added tax when they get penalties for the violation of the terms of safe lease contracts.

Letter of the Central Bank of Russia No. 08-17/648 of February 22, 2007 on the Issues of Application of the Direction No. 1725-U

According to the rules of accounting work in credit organisations, the mentioned organisations carry out conversion operations for client natural persons in cases of purchase and sale of foreign currencies in cashless form using the client bank accounts, and in cases of purchase and sale of foreign currencies in cash - through the currency exchange offices. When the client natural person carries out operations using a pre-paid card, the bank account is not opened. There emerges an obligation with the credit organisation to execute the demand of the card holder in the currency of purchase. In this connection, the holder of the pre-paid card does not have legal opportunities to give an order to the credit organisation to change the currency of the obligation having emerged at the moment of purchase of the pre-paid card by the natural person.

Decision of the Constitutional Court of the Russian Federation No. 3-P of March 21, 2007 on the Case of Constitutionality of a Number of Provisions of Article 6 and 15 of the Federal Constitutional Law on the Referendum of the Russian Federation Pursuant to the Appeal of Citizens V.I.Lakeyev, V.G.Solovyev and V.D.Ulas

The Constitutional Court of the Russian Federation recognised as complying with the Constitution of the Russian Federation the provision of Item 6 of Part 5 of Article 6 of the Federal Constitutional Law on the referendum of the Russian Federation stating that the issues of adoption and amending of the federal budget may not be put forward for the referendum.

Decision of the Government of the Russian Federation No. 178 of March 24, 2007 on the Endorsement of the Regulation on the Coordination of the Draft Schemes of Territorial Planning of the Subjects of the Russian Federation and the Draft Documents of Territorial Planning of Municipal Formations

According to the City Planning Code of the Russian Federation, the draft schemes of territorial planning of the subject of the Russian Federation and the draft documents of territorial planning of a municipal formation must be coordinated if the proposals available in the mentioned draft documents suggest changing of existing or planned according to the documents of territorial planning of the Russian Federation (subjects of the Russian Federation) borders of the lands of the forest fund, borders of the lands of defence and security destination, borders of the lands of the specially protected natural territorial of federal or regional significance, borders of the land plots owned by the Russian Federation (subjects of the Russian Federation), borders of the territories of objects of cultural heritage, borders of zones of planned objects of capital construction of federal or regional significance. Coordination also applies in cases of location of objects of capital construction of regional or local significanc e if they imply a negative impact on the environment on the mentioned lands, territories and land plots.

Letter of the Federal Tax Service of the Russian Federation No. ChD-6-09/167@ of March 9, 2007 on the Explanations in Addition to the Letter of the Federal Tax Service of Russia No. ChD-6-09/75@ of February 5, 2007

In addition to the Letter of the Federal Tax Service of Russia No. ChD-6-09/75@ of February 5, 2007, provides explanations on the filling of the form of the bank report of the opening (closing) of account, change of account requisites endorsed by the Order of the Federal Tax Service of Russia No. SAE-3-09/861@ of December 13, 2006.

Letter of the Federal Tax Service No. 18-0-09/0070 of February 15, 2007

Confirms the legality of demanding from the accountant (another person) submitting accounting and tax reports to the tax body to present a proxy confirming the authority of the mentioned person for participation in the legal tax relations.

Information Letter of the Presidium of the Higher Arbitration Court of the Russian Federation No. 117 of March 13, 2007 on Individual Issues of the Practice of Application of Chapter 25.3 of the Tax Code of the Russian Federation

The Presidium of the Higher Arbitration Court of the Russian Federation examines individual issues of payment of the state duty for the cases processed in arbitration courts.

Decision of the Constitutional Court of the Russian Federation No. 4-P of March 22, 2007 on the Case of Constitutionality of the Provision of Part 1 of Article 15 of the Federal Law on the Budget of the Social Insurance Fund of the Russian Federation for the Year 2002 Pursuant to the Appeal of Citizen T.A.Banykina

The Constitutional Court of the Russian Federation recognised as unconstitutional the norm on the maximum amount of the maternity allowance, the amount making at present Rbl 16,125.

Decision of the Government of the Russian Federation No. 185 of March 27, 2007 on the Amendments to the Rules of Sale of Individual Types of Commodities

Amends the rules of sale of individual types of commodities endorsed by the Decision of the Government of the Russian Federation No. 55 of January 19, 1998. According to the amendments, the prohibition of retail trade through vending stands and kiosks applies not only to audio and video pieces, phonograms, but also to copies of computer programs and databases.

Decision of the Government of the Russian Federation No. 183 of March 27, 2007 on the Endorsement of the Coefficient of Indexing of the Estimated Pension Capital of the Insured

From April 1, 2007, the coefficient of indexing of the estimated pension capital of the insured as of January 1, 2006 is fixed in the amount of 1.16.
      The Decision is entered into force from April 1, 2007.

Decision of the Government of the Russian Federation No. 181 of March 27, 2007 on the Endorsement of the Coefficient of Indexing from April 1, 2007 of the Basic Part of the Labour Pension and the Coefficient of Additional Increase from April 1, 2007 of the Amount of the Insured Part of the Labour Pension

From April 1, 2007, the coefficient of indexing of the basic part of the labour pension is fixed in the amount of 1.075 (the previous coefficient fixed as of April 1, 2006 amounted to 1.085).
      The coefficient of additional increase of the amount of the insured part of the labour pension makes 1.092 (in the previous year, 1.063 respectively).
      The Decision is entered into force from April 1, 2007.

Decision of the Government of the Russian Federation No. 176 of March 24, 2007 on the Labour Remuneration for the Employees of the Federal State Bodies Occupying Positions Not Being the Ones of the Federal State Civil Service

Decree of the President of the Russian Federation No. 763 of July 25, 2006 introduced new amounts of monthly salaries and the monthly monetary incentives for all categories of the federal state civil servants, as well as the salaries for the class grade used from January 1, 2006. In this connection, the Government of the Russian Federation is ordered to adjust the labour remuneration of employees occupying positions not being the ones of the federal state civil servants.
      The Decision is entered into force from the date of official publication and applies to legal relations emerging from January 1, 2007.

Direction of the Central Bank of Russia No. 1803-U of March 26, 2007 on the Amendments to the Direction of the Bank of Russia No. 1376-U of January 16, 2004 on the List, Forms and Procedure of Drawing up and Submission of the Forms of Reports of Credit Organisations to the Central Bank of the Russian Federation

Amends 7 forms of reports (0409051, 0409052, 0409135, 0409345, 0409401, 0409652 and 0409904) and 12 procedures of drawing up and submission of reports (0409115, 0409135, 0409153, 0409301, 0409345, 0409401, 0409601, 0409664, 0409665, 0409806, 0409807 and the General Procedure of Filling of the Forms of Reports 901, 902, 904, 906, 907, 908, 909).
      The Direction is entered into force from April 1, 2007.
      Registered in the Ministry of Justice of the Russian Federation on March 29, 2007. Reg. No. 9168.

Letter of the Federal Service of Labour and Employment No. 472-6-0 of March 1, 2007

Explains the issue of legality of paying out of employee earnings once a month.

Official Report of the State Corporation "Deposit Insurance Agency" of March 23, 2007

According to the actual legislation on the insurance of deposits of natural persons in the banks of the Russian Federation, the Board of Directors of the state corporation "Deposit Insurance Agency" is entitled to fix the rate of insurance contributions of banks to the Fund of Obligatory Insurance of Deposits. From July 1, 2007, the mentioned rate is fixed in the amount of 0.13 percent of the estimated base for the estimated period (calendar quarter of the year).

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